The global affective computing market was worth USD 54,002.2 million in 2022. As a result of the increasing adoption of affective computing in the healthcare and retail industry, the market is expected to reach USD 12, 94,617.60 million by 2033, up from USD 71,282.9 million in 2023.
Technological advancements and the growing adoption of electronic devices are expected to positively affect the growth of the market. A growing need for better security in numerous sectors and an increasing need for fraud detection in virtual assistants are driving the market upward.
AI products are expected to benefit greatly from the advancement in technologies, alongside the creation of smart equipment and software such as facial recognition and skin temperature detection. In turn, it is expected to increase the market value of affective computing tools in the coming decade.
A growing number of end-user industries are adopting connected devices, along with improvements in affective computing, which is expected to drive the market. It is anticipated that affective computing is expected to be widely adopted across diverse sectors in the coming years, propelling the market's development. These sectors include healthcare, market research, automotive, media & advertising, gaming, and e-learning.
Smart wearable devices are set to give the market a notable boost, alongside the emergence of new start-ups and increasing use by leading organizations of effective computing tools for studying and analyzing consumers' behaviors.
Healthcare industries are increasingly utilizing artificial intelligence in various surgeries. Various organizations have also adopted digital business continuity plans in the digital age.
With the proliferation of mobile devices and Internet penetration throughout the world, individuals are increasingly inclined to use digital technologies for staying connected globally. This has proliferated the market demand for facial recognition, speech recognition, and gesture recognition in the market.
The adoption of affective computing solutions allows organizations to counter the spread of viruses by using technologies such as facial recognition and temperature detection systems. The industry is heavily investing in research and development to develop analytical software that is expected to help them to identify outbreaks in the future.
| Attributes | Details |
|---|---|
| Affective Computing Market CAGR (2023 to 2033) | 33.6% |
| Affective Computing Industry CAGR (2018 to 2022) | 31.5% |
| Affective Computing Industry (2018) | USD 18,032.2 million |
| Affective Computing Industry (2022) | USD 54,002.2 million |
| Affective Computing Market (2023) | USD 71,282.9 million |
| Affective Computing Market (2033) | USD 12,94,617.60 million |
| Affective Computing Market Attraction | A rise in the adoption of advanced electronic devices, coupled with technological advancements, is expected to drive growth in the market during the forecast period. Voice-activated biometrics used for security purposes, sensors, and robotics all stimulate market growth. |
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The development of industry is anticipated to increase the performance of the affective computing system through technological advances such as streamlined computing, a better user interface, and the latest networking innovations.
Various sectors are looking for many secure products and the increasing need for virtual assistants that can detect fraudulent activity is creating growth in the market. In addition to affective computing, voice-activated biometrics are also contributing to the explosion of the market. As a result, the future of any company is projected to be affected by affective computing. It is going to have a big impact on productivity, human resource management, and organizational transitions.
Various market verticals around the world are now adopting emotion AI/affective computing solutions in the market. The advances in computing capacity, the development of new communications technologies, and the arrival of new solutions, such as artificial intelligence, have enabled opportunities to emerge that were previously inaccessible due to a lack of resources.
The growing use of virtual assistance in smart homes and the application of AI-based technologies to customer service are what are propelling the growth of this market. In the world of affective computing, there is a continuous growth of different software in the market for various industry verticals. This is further expected to stimulate the market growth for affective computing in the market.
Various end-user verticals are expected to adopt connected devices, and continuous advancements in enabling technologies are expected to fuel market growth during the forecast period.
The high implementation costs and technological issues related to compatibility are expected to restrict the market's growth. Most data collected on customer behavior is collected in a complex lab setting and is reflected in the behavior of customers through emotions and gestures. Due to these challenges, companies are building models for affective computing that address these challenges while identifying and making decisions from data accumulated.
Affective computing tends to incur high development costs, such as wearable computing and gesture recognition. In the current market situation, this appears to be the key stumbling block to growth. To remain competitive and increase their product offering, solution providers are now focusing hugely on technological partnerships.
Until affective computing is better understood, the AI emotion/affective computing market faces a big challenge. The technology sector has also received a lot of attention, but business leaders have not managed to distinguish it from the real thing. In addition, the economic and social implications of this technology are not yet fully understood. The presence of affective computing is ambiguous both in terms of its potential and its limits.
Principal Consultant
| Country/Region | North America |
|---|---|
| Value Share % (2022) | 32.2% |
| Country/Region | The United States |
|---|---|
| Value Share % (2022) | 18.4% |
North America is expected to hold a prominent market share for affective computing. The market for computing solutions in the United States is expected to account for a 32.3% CAGR during the forecast period. By 2033, the market is expected to be worth more than USD 303.2 billion in the coming decades.
A rise in the number of research and development projects and investments in this region is expected to increase the market demand for affective computing in the market. A market for AI-based technologies and next-generation equipment on a large scale has boosted the market demand for affective computing in this region.
Economic growth and the increasing use of robotics in this region have greatly stimulated the market demand for affective computing in this region.
| Country/Region | China CAGR (2023 to 2033) |
|---|---|
| Value Share % (2022) | 34.3% |
| Country/Region | India CAGR (2023 to 2033) |
|---|---|
| Value Share % (2022) | 30.2% |
| Country/Region | Japan Market Share (2022) |
|---|---|
| Value Share % (2022) | 5.5% |
Asia Pacific is expected to dominate the affective computing market during the forecast period. The Asian Pharmaceutical and Biotechnology industry is expected to grow considerably in the coming years due to the increasing adoption of the latest technological advances across the region as well as the emergence of economies in China and India. The market is expected to see revenue growth of 34.3% CAGR in China during the forecast period.
The market for affective computing in China is expected to reach USD 66.9 billion by 2033. With a growing market for smart wearables in China as well as various initiatives for electronic devices, affective computing is gaining traction in this region.
According to the forecast, the economy of Japan is anticipated to expand at a CAGR of 31.2% from 2023 to 2033. As industrial production increases and IT technologies expand in this area, market demand for affective computing is expected to grow.
The development of sensors and cameras in this region is expected to lead to growth in affective computing. Market value in South Korea is expected to reach USD 33.8 billion during the forecast period. A CAGR of 30.2% is predicted for the market during the forecast period.
High-tech healthcare infrastructures and booming e-commerce companies are fueling the development of affective computing. As smart cities and smart homes continue to grow in popularity in this region, there is likely to be an increase in market demand for affective computing in this region.
| Country/Region | Europe Market Share (2022) |
|---|---|
| Value Share % (2022) | 23.2% |
| Country/Region | Germany’s Market Share (2022) |
|---|---|
| Value Share % (2022) | 10.5% |
| Country/Region | The United Kingdom CAGR (2023 to 2033) |
|---|---|
| Value Share % (2022) | 32.3% |
During the forecast period, the artificial intelligence market for affective computing in the United Kingdom is projected to expand at a compound annual growth rate of 32.3% during the period. Due to the emergence and development of artificial intelligence and machine learning technologies, affective computing is anticipated to experience high demand in this area.
The market demand for affective computing is growing notably due to the increasing popularity of innovative new products for voice processing and speech recognition.
Key players in the market are raising their production capacity via strategic partnerships, and catering to consumer demand; thus, elevating their market share and revenue. The introduction of new products and technologies is expected to allow end-users to reap the benefits of new technologies.
Current Trends in Affective Computing:
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The affective computing industry is projected to reach a valuation of USD 12, 94,617.60 million by 2033.
Microsoft and IBM Corporation are the top players in the affective computing industry.
The United States is projected to hold a sizeable market share over the forecast period.
The affective computing industry is projected to grow at a CAGR of 33.6%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Components 5.1. Software 5.1.1. Speech Recognition 5.1.2. Gesture Recognition 5.1.3. Facial Feature Extraction 5.1.4. Analytics Software 5.1.5. Enterprise Software 5.2. Hardware 5.2.1. Sensors 5.2.2. Cameras 5.2.3. Storage Devices and Processors 5.2.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technologies 6.1. Touch-based 6.2. Touchless 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Verticals 7.1. Academia and Research 7.2. Media and Entertainment 7.3. Government and Defense 7.4. Healthcare and Life Sciences 7.5. IT and Telecom 7.6. Retail and E-Commerce 7.7. Automotive 7.8. BFSI 7.9. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. MICROSOFT 18.2. IBM 18.3. APPLE 18.4. QUALCOMM 18.5. INTEL 18.6. SONY DEPTHSENSING SOLUTIONS 18.7. AFFECTIVA 18.8. ELLIPTIC LABS 18.9. NUMENTA 18.10. Eyeris 19. Assumptions & Acronyms Used 20. Research Methodology
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Affective Computing Market
